Chapter 13: Techno-Entrepreneurship: Catalyst for Profitability and Efficiency in the Handicraft Industry

This study examines the transformative role of techno-entrepreneurship in the handicraft industry, focusing on its potential to reduce operating costs, enhance profit margins, and improve efficiency and productivity. By leveraging technological innovations, the handicraft sector has the opportunity to drive revenue growth and achieve sustainable success in an evolving marketplace. Using data from 390 participants, the study employs partial least squares structural equation modeling (PLS-SEM) to assess how techno-entrepreneurship influences cost reduction and profit enhancement. The findings confirm the strategic importance of techno-entrepreneurship in revolutionizing the industry, identifying productivity and efficiency as key mediators that connect entrepreneurial innovation to organizational success. These mediating factors play a crucial role in initiatives aimed at cutting costs and boosting profit margins. The research offers new insights for industry stakeholders, policymakers, and entrepreneurs, emphasizing the need to embrace technological advancements and entrepreneurial ingenuity to navigate the complexities of the handicraft sector. The study highlights the connections between innovation, productivity, efficiency, and sustainable growth, providing a road map for businesses looking to succeed in this rapidly changing landscape.